May 18 2017 34399 1

Dated: 05/19/2017

Views: 66

7 Closing Mistakes to Avoid When Buying A Home

The seller accepted your offer, the inspector didn’t find anything that's a deal killer. You’re in the homestretch! While you can breathe a little easier, remember, the deal’s not done until everyone signs all the (zillion) documents. Your lender can still change their mind!Here are 5 closing mistakes to avoid when buying a home!

1. Don’t mess with your income-to-debt ratio - Don't rack up ANY out of the ordinary charges on your credit card or in your bank account! Your lender is likely to run your credit report just before closing. While it’s tempting, don’t buy a bunch of new windows because they were on sale. Don’t sign the lease on the new Audi that will look perfect in your new driveway. The bank looks at lease payments like any other debt payment.

2. Don’t disappear - No last minute trips without talking to your lender and Realtor. Be readily available to immediately address any last-minute concerns.

3. Don’t change jobs - Lenders love stability. Switching jobs can kill the deal!

4. Don’t open new credit cards - Yes, you’ll be buying furniture to fill those lovely rooms. Yes, you might need a new fridge. And yes, new dishes to match the new kitchen would be splendid. But resist the lure of opening new credit cards until after closing. Doing so can affect your credit score. For now, just open catalogs.

5. Don’t be late - Even though you may have been riding the real estate roller coaster and life’s been chaotic, STAY current with ALL bill payments. Late payments, too, WILL affect that all-important credit score.

6.  No Extra Bank Deposits - So, it's your birthday and granny gave you $5000.  COOL!!!  Do NOT deposit without checking with your lender!

7. No MATTRESS money - You have a pile of money in your safe? Do not deposit the money without talking with your lender!

Keep all of this in mind!  If you have ANY questions, call you Lender and your Realtor!

Blog author image

Bruce Palizban BRE#01807369

Bruce is a business professional with a strong work ethic with an extensive background in customer service as he spent years of his youth managing a well known established family business, Rocco’s P....

Want to Advertise on this Site?

Latest Blog Posts

Sellers Its Risky Pricing High To See What Happens

Every seller wants to get the best deal for their house—especially when you consider that as much as $500,000 in profit can be earned tax-free. So why not just price your house to the moon? After

Read More

January 2018 Housing Report 4 Things To Know

December capped off 2017 with record-breaking home prices, speedy sales and low inventory. One thing is for sure is that the real estate market is on fire, and there's no indication the flames

Read More

Why Home Inspections Matter

One of the best pieces of advice you can heed when it comes tobuying a houseis to order a home inspection. Regardless of whether you're afirst-time homebuyeror an old pro, you might have on rose

Read More

No Down Payment For A Home No Problem

Are you considering buying a home but struggling with putting together a down payment? Are you aware of the government assisted down payment programs available to you? There are grant programs which

Read More